SSE

This is one of the main indexes that we need to monitor for Asia Pacific Region because this index is one big big massive index with a lot of billions of USD trading in there. If China goes down, all Asia will accompany him..


Lets review the SSE index this week.

1) Downtrend - Still following the downtrend line
2) Lower High - Create a new Lower High at 2837 and hit the downtrend line and goes down again
3) MACD - Down and below 0 which reflecting downtrend
4) RSI - Down at 44.3% and monitor until 30% and hope for a major rebound or reversal
5) ADX Signal - At 23.6 showing low momentum downtrend and that this index will probably move sideways
6) Major Support at 200D support at 2769 and Support line of 2762. If further break our next support will be at 2722..

Stock Market and Forex Update based on Economic Calender

Watchout for a week of profit taking

Based on the Economic Calender

China Market / HSI drop badly due to Actual Import / Export did not meet the Forecast Expectation badly

SSE Index

Today we see a black candle and the main support will be at
S1 = 2772 ( 200 ma )

S2 = 2762
S3 = 2722

So until we can know there will be a big good news , i believe there will be a small correction lower than 2722 before bulling again.


KLCI

Looking at the KLCI, i am worried and there might be a profit taking session this week by following other major countries together. High chances i will offload for chances and wait till it retrace to 1531 and reversal then only ride on the Bull.